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Crypto can alleviate the financial fallout for people in Afghanistan

CryptocurrencyAug 29, 2021 11:20AM ET
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Crypto can alleviate the financial fallout for people in Afghanistan

“One of the greatest tragedies in life,” according to author K. L. Toth, “is to lose your own sense of self and accept the version of you that is expected by everyone else.” For the people of Afghanistan — almost 40 million of them — the loss of self, as well as the loss of life, has become a brutal reality. With the Taliban in control, chaos now reigns supreme. As businesses shut down, tens of thousands of people are desperately trying to flee the country. Moreover, as the political system collapses, so too does the financial one.

As CNBC’s MacKenzie Sigalos recently noted, Afghanistan is “a country running on legacy financial rails.” This painful reckoning, 20 years in the making, has resulted in a “nationwide cash shortage,” as well as “closed borders, a plunging currency, and rapidly rising prices of basic goods.” The people are desperate as the country quickly descends into the deepest depths of despair.

John Mac Ghlionn is a researcher and cultural commentator. His work has been published by the likes of the New York Post, The Spectator, The Sydney Morning Herald and National Review.

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Crypto can alleviate the financial fallout for people in Afghanistan
 

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Comments (1)
Kanishka Yaftali
Kanishka Yaftali Aug 29, 2021 3:48PM ET
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The article is correct. I am an Afghan and I hate the Taliban very much. Now all the banks are closed. People are even willing to give all they have for a piece of bread, but no one buys. The situation is getting worse every day. To be honest, it is a human tragedy A savage group is keeping the people in this state and the people have no way to escape and they are even sending their sons to Iran out of poverty so that this can be done.
 
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